UAE entrepreneurs 'stressed out'
Dubai, November 15, 2010
More than 60 per cent of UAE entrepreneurs declared their stress levels had risen markedly during the past two years with late payment being their main concern, according to a new study by Regus.
A leading provider of workplace solutions, Regus said globally 46 per cent of entrepreneurs saw their stress levels rise in the past two years proving that the difficult economic environment had not only left a mark on business attitudes but also on entrepreneur’s personal lives, so closely tied up with their business lives.
In the UAE, 62 per cent respondents said their stress levels peaked mainly due to concerns over late payment followed by reduced bank credit and falling revenues, the study revealed.
Commenting on the results, Mark Dixon, chief executive of Regus, said, “Small businesses provide an important barometer of growth and innovation in any country. Entrepreneurial success is an indicator for innovation and future wealth generation."
"Given its importance, the concerns and obstacles faced by this segment are likely to have significant repercussions on the economy as a whole," he noted.
Aside from overall stress levels the survey also examined the major preoccupation behind that stress. Globally, entrepreneurs related that they are most concerned with falling profits and revenues.
"The second key concern, however, was a lack of cash or working capital to invest in the economic upturn, followed closely by worries over late payment," he added.
"As SMEs exit a period of economic difficulty and prepare to invest in the upturn their concerns reveal that pressures around securing capital to invest are great," said Dixon.
"In addition to this SMEs in the UAE, where banks are reported to generally reject 50-70 per cent of credit applications from small businesses, continue to feel hampered by lack of access to credit,” he added.-TradeArabia News Service
More Education, HR & Training Stories
- Saudi CEOs ‘highest paid in GCC’
- UAE ministry seals Microsoft deal
- Pact signed for UAE girls students' development
- Bahrain private school to resume classes
- BIBF signs deal with Palestinian institute
- Number of Omani working women soars
- Bayt.com launches Employer of Choice Awards
- Rota interview to screen youth conference applicants
- Experts discuss ways to build talented aviation workforce
- Top e-learning experts at Dubai summit
- Top education experts win GESS awards
- Bahrainis top GCC nationals seeking Saudi jobs
- Transguard launches graduate trainee programme
- Applications invited for Bahrain scholarship
- New technology training for educators
- Mubadala tie-up promotes healthy lifestyle
- GCC education sector short of 200,000 professionals
- Rosetta Stone buys language-learning firm
- Focus on special needs education
- NIIT signs deal with Com Group
- iPads replace textbooks in 75 Saudi schools
- 250 students tour aviation training facility in Abu Dhabi
- 40 Jordanian students showcase apps, games
- New Indian school opens in Dubai
- Sharp to showcase educational products at Gess2014
- Qatar science park offers training to tech entrepreneurs
- Bahrain Indian School opens new campus
- Labour reforms 'key to job creation'
- Petroleum services training centre opened in Dammam
- Silatech, Spark to partner on youth work